Are you planning on selling your home in 2021? Whether you’re a first-time seller or an experienced real estate pro, staying up-to-date on home-selling trends is essential. Here are five of the most important trends to be aware of this year to maximize your chances of success.
Emphasis on Virtual Tours &
Due to the COVID-19 pandemic, many sellers have moved towards virtual tours and open houses as a safe way for potential buyers to view properties. This is especially true for those who are out of town or unable to visit showings due to travel restrictions. Virtual tours and open houses allow buyers to get a better sense of the layout and design of your property without having to visit it physically. You can also provide links or additional materials, such as floor plans or photos, so potential buyers can explore further before deciding.
Increased Demand for Outdoor Spaces
As more people work from home, there has been an increased demand for homes with plenty of outdoor space for recreation and relaxation. Buyers are looking for properties with large decks, patios, gardens, and other outdoor amenities that provide a respite from the hustle and bustle of everyday life. Consider getting a swimming pool if you want to sell your home fast.
The pandemic made many public pools close, pushing many sellers to install a pool in their homes. This helps them sell their home faster by incentivizing buyers to make an offer. So if you have any outdoor features that could add value to your property, showcase them prominently!
Focus on Green Living
Environmentally conscious buyers are increasingly searching for green living options when buying homes. Properties equipped with energy-efficient appliances, solar panels, rainwater harvesting systems, sustainable building materials, and other eco-friendly features will make your listing stand out compared to others in the market. In addition, these features appeal to environmentally conscious buyers and may qualify you for specific tax incentives or credits, which could help further sweeten the deal!
Growing Interest in Suburban Areas
With more people working remotely due to COVID-19 restrictions, many city dwellers have opted to move out into suburban areas where they can enjoy more spacious living arrangements at lower costs than what’s available in downtown urban centers. As such, there has been an increasing demand for properties close enough to cities so that residents can still enjoy all its advantages but far enough away so that they don’t have to deal with all the traffic congestion and noise associated with city living. This could be a central selling point if your property is close enough to cities but far away from their hustle and bustle. This could be the main selling point!
Buyer Demand Outweighing Supply
In addition, there is currently a high demand for homes across many markets due to historically low-interest rates. However, inventory levels remain relatively low as builders face many obstacles, such as labor shortages, material delays, rising costs, etc. As such, sellers should capitalize on this opportunity by pricing their homes competitively while ensuring they remain attractive and desirable to prospective buyers.
Selling your home during 2021 presents opportunities and challenges depending on your location and property type. However, a current understanding of trends allows you to maximize your chances of success no matter what market conditions exist! If you need a tip to get ahead without spending too much money, consider doing some home renovations.
One should never underestimate the power of home renovations. Here are three important home renovations with high ROIs.
Your kitchen is a crucial area to focus on when renovating a home. A fresh coat of paint, new flooring, updated appliances, and modern lighting can transform the look and feel of your kitchen with minimal effort or cost. In addition, many buyers view an updated kitchen as a sign of good stewardship and quality craftsmanship, which can help you attract more potential clients. The ROI for this renovation is a staggering 80% so consider this if you need to boost the value of your home quickly and effectively.
Upgrading your bathroom is another necessary renovation to consider when selling a home. Modernizing the sink, toilet, or shower can add instant appeal to potential buyers as they will likely be looking for a home with modern features and amenities. Furthermore, focusing on lighting fixtures that create a spa-like atmosphere, such as dimmable LED lights or overhead rain showers, can help enhance its appeal. The ROI for this type of renovation is also relatively high, at around 70%.
When it comes time to sell, the exterior of your property should not be overlooked. Upgrading landscaping by installing new plants and trees can improve curb appeal while adding more privacy. Other options include repainting your fence, adding a porch or patio, or investing in new exterior lighting fixtures that create ambiance and safety. The ROI for this type of renovation is around 60%, so it can be an excellent investment if you are on a budget.
Doing these renovations can be costly if you don’t do it right. Consider hiring an affordable general contractor for these projects. You can do so by shopping for them. Don’t settle on just one. Talk to multiple contractors and compare their quotes. Compare their previous work and customer reviews, as well.
Overall, selling your home during 2021 presents opportunities and challenges that can be mitigated with careful preparation and insight into the current real estate climate. Whether you are focused on renovating your home or pricing it competitively, these trends can help guide your decision-making and maximize your chances of a successful sale!